KRP Development Holdings Limited (HK:2421) has released an update.
KRP Development Holdings Limited warns of an anticipated 80% drop in yearly profits due to decreased property sales and an impairment loss on inventories, despite maintaining a sound financial position with completed projects in the Greater Bay Area. The company, which has a strong cash stance and no significant debts, remains optimistic about future growth, citing positive signals from national and local policies and ongoing sales recovery. The final annual results are pending, expected by the end of June 2024, and shareholders are advised to trade cautiously.
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